28Aug

Singapore Stock Watch: Singapore stock market shut 0.7% down on Tuesday

Singapore Stock Watch: Singapore stocks finished 0.7 for each penny higher on Tuesday, with the Straits Times Index rising 21.93 focuses to 3,247.55 at the end chime.

The field was generally equitably coordinated, with 194 gainers to 206 washouts, as somewhere in the range of 1.30 billion offers worth S$872.7 million altogether changed hands.

The most effectively exchanged counter was Nico Steel with 161.33 million offers exchanged, multiplying in cost to end at 0.2 Singapore penny. Different actives included Noble Group with 74.6 million offers, down 14.09 for each penny to 12.8 Singapore pennies, and ThaiBev with 46.84 million offers exchanged, down 2.34 for every penny to 62.5 Singapore pennies.

Dynamic stocks included DBS, up 0.83 for each penny to S$25.40, and OCBC Bank, up 1.95 for every penny to S$11.48.

Singapore, Chongqing associations in infocom and media get a lift with new store

A NEW store will be set up to help joint efforts between organizations in Singapore and Chongqing, China in infocommunications and media (ICM), covering advancements, for example, man-made consciousness, Internet-of-Things, virtual and increased reality, mechanical autonomy and blockchain innovation.

The China-Singapore ICM Joint Innovation Development Fund, for undertakings to be together created and executed in either nation, is one of the activities under an update of comprehension (MOU) marked by Enterprise Singapore and Infocomm Media Development Authority of Singapore with Chongqing Economy and Information Technology Commission. Different regions of collaboration incorporate helping Singapore ICM firms enter Chongqing and creating shrewd areas in Chongqing.

The MOU was one of a few marked on Tuesday between different associations under the China-Singapore (Chongqing) Connectivity Initiative (CCI) for joint efforts in segments, for example, data and interchanges innovation, budgetary administrations, tourism and medicinal services, at the second day of the FutureChina Global Forum and Singapore Regional Business Forum 2018.

Different MOUs secured, for example, the foundation of a Chongqing development place for ICM little and medium ventures, which will give an arrival point to Singapore firms entering the city.

28Aug

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

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INTERNATIONAL COMEX NEWS

  • Gold prices slipped on Monday, while the dollar also eased on comments from the Federal Reserve chairman in support of a gradual approach to raising rates. Gold Futures for December delivery traded 0.2% lower to $1,212.7 per troy ounce at 1:35AM ET (05:35 GMT) on the Comex division of the New York Mercantile Exchange. Last Friday, Powell said during a speech at the Jackson Hole Symposium in Wyoming last Friday that “further, gradual” rate hikes were likely in the future, noting the economy is “strong” and able to withstand tighter monetary policy.
  • An OPEC and non-OPEC monitoring committee found that oil producers participating in a supply-reduction agreement cut output in July by 9 percent more than called for in their pact, two sources familiar with the matter said on Monday. The findings for last month compare with a compliance level of 120 percent for June and 147 percent for May, meaning participants have been steadily increasing production.
  • The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.49% at 95.08 late Friday. The index ended the week down 0.96%, its second consecutive weekly decline. A weaker U.S. currency makes gold and other dollar-denominated commodities less expensive for foreign investors. Gold prices have fallen around 14% so far this year, pressured lower by the stronger dollar and rising interest rates.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Mexico and the United States are close to agreement on bilateral issues in the renegotiation of the North American Free Trade Agreement (NAFTA), a top Mexican official said on Monday, as U.S. President Donald Trump tweeted a “big deal” was “looking good.” When asked by reporters if a deal had been reached, Mexican Economy Minister Ildefonso Guajardo said an announcement was “probably on the agenda,” but that he still had to conclude a “very important” issue.
  • France on Monday encouraged Turkey to use all available economic policy tools to ensure sustainable growth, Finance Minister Bruno Le Maire said after meeting with his Turkish counterpart Berat Albayrak. Turkey’s lira has tumbled about 40 percent this year, driven by worries over President Tayyip Erdogan’s grip on monetary policy and the standoff with the United States over the fate of evangelical Christian Andrew Brunson. “It is in everyone’s interest, in France, in Turkey, in Europe, that the situation stabilizes in Turkey,” Le Maire told reporters.
  • China pledged on Monday to tighten oversight of its transport industry and warned that the country did not need ridehailing firms which compromised on passenger safety, days after a Didi Chuxing passenger was raped and murdered by her driver. The killing of a 20-year-old passenger who rode in the Didi vehicle on Friday in the eastern city of Wenzhou is the second such incident since May, denting the image of the Beijing-based company, which is the world’s largest ride-hailing firm by number of rides and is expanding globally.

COMEX GOLD SIGNAL

24Aug

Singapore Stocks Watch: STI resumes Friday evening at 3,228.64, down 0.65% on day

Singapore Stocks Watch:SINGAPORE stocks fell on Friday evening’s exchanging resumption, with the Straits Times Index heading down 0.65 for every penny or 21.25 indicates on the day 3,228.64 as at 1.02pm.

Washouts dwarfed gainers 191 to 110, or around seven securities down for each four up, after 609.8 million securities worth S$552.9 million changed hands.

Among the most vigorously exchanged by volume, Singtel withdrew 2.1 for every penny or S$0.07 to S$3.21 with 16.8 million offers exchanged. Respectable Group fell 1.3 for each penny or S$0.002 to S$0.152 with 16.2 million offers exchanged.

Dynamic file stocks included DBS Group Holdings, down 0.4 for every penny or S$0.11 to S$25.44; and United Overseas Bank, down 1.4 for each penny or S$0.39 to S$26.91.

MAS, SGX accomplice Anquan, Deloitte and Nasdaq to investigate DvP settlement crosswise over blockchain stages

THE Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX) will team up with Anquan, Deloitte and Nasdaq to create Delivery versus Payment (DvP) capacities for settlement of tokenised resources crosswise over various blockchain stages, the Singapore parties declared on Friday.

DvP is a settlement method in which securities and installments are at the same time traded to guarantee that the securities are conveyed if and just if the comparing installment is made, while tokenised resources are ones which have had their proprietorship rights changed over to computerized tokens that can be purchased and sold.

DvP abilities for tokenised advanced monetary forms and securities resources would enhance operational proficiency and diminish settlement dangers for money related foundations and corporate financial specialists by enabling them to complete synchronous trade and last settlement for such resources, SGX and MAS said in their joint proclamation.

Innovation accomplices Anquan, Deloitte and Nasdaq will use open-source programming created and made freely accessible in Phase 2 of Project Ubin, an industry cooperation began in November 2016 to investigate the utilization of Distributed Ledger Technology (DLT) to clear and settle installments and securities.

Toward the finish of the undertaking, they will create a report by November 2018, which will analyze the capability of mechanizing DvP settlement forms with Smart Contracts and distinguish key outline contemplations to guarantee versatile activities and upgraded security for speculators.

“This activity will send blockchain innovation to productively interface up stores exchange and securities exchange, killing the two purchasers’ and dealers’ hazard in the DvP procedure,” said head of innovation at SGX and venture seat Tinku Gupta.

“This is a synergistic advancement uniting various players to seek after true open doors that will profit the biological community.”

MAS’ boss fintech officer Sopnendu Mohanty included: “Blockchain innovation is fundamentally changing how money related exchanges are performed today, and the capacity to execute flawlessly crosswise over blockchains will open up a universe of new business openings.

“The contribution of three unmistakable innovation accomplices features the business enthusiasm for making this a reality.”

23Aug

Singapore highest inflation at 0.6% in July; core inflation most elevated in four years

SINGAPORE’S feature expansion was unfaltering in July with the purchaser value list (CPI) up 0.6 for every penny year-on-year, in accordance with financial specialists’ desires and unaltered from June, as indicated by a Department of Statistics investigate Thursday.

Center swelling, which strips out the cost of convenience and private street transport, rose 1.9 for each penny year-on-year because of a bigger increment in the cost of power and gas – up from June’s 1.7 for every penny rise and the speediest pace since August 2014, when it climbed 2 for every penny.

In spite of the ascent in center expansion, feature swelling was unaltered because of a decrease in private street transport costs.

The cost of power and gas rose 12.7 for every penny in July, more extreme than the 3.7 for each penny ascend in June, mirroring an upward amendment in power taxes after worldwide oil cost increments in the former quarter.

Sustenance expansion came in at 1.5 for every penny in July, unaltered from June. Administrations swelling was bring down at 1.5 for each penny, contrasted with 1.7 for every penny the prior month, because of littler increments in the cost of instruction, human services administrations, airfares and residential administrations charges.

Both convenience and private street transport saw costs fall. Settlement cost slid 3 for every penny in July, indistinguishable rate of decrease from in June. Private street transport costs fell 0.2 for each penny in July, turning around June’s 0.4 for each penny increment, because of a more extreme year-back fall in auto costs and a decrease in Certificate of Entitlement premiums.

Imported swelling is probably going to rise gently on the back of ascends in worldwide oil costs and sustenance product costs, said the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) on Thursday. Residential wellsprings of swelling are likewise anticipated that would ascend, close by speedier wage development and a get in household request. In any case, the degree of shopper cost increments will remain direct, as retail leases remain moderately curbed and firms’ evaluating force might be obliged by rivalry, said MAS and MTI.

Center swelling is relied upon to rise bit by bit finished the course of 2018, with the entire year figure averaging in the upper portion of the 1 to 2 for every penny estimate run. Feature swelling is correspondingly anticipated to come in inside the upper portion of its zero to 1 for every penny entire year gauge go. Convenience costs are relied upon to fall by a littler degree than in 2017, while private street transport swelling should decrease in 2018 as inflationary impacts from past measures scatter.

23Aug

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

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INTERNATIONAL COMEX NEWS

  • Gold prices were higher on Wednesday, as political uncertainty weighed on the U.S. dollar and investors looked ahead to meeting minutes from the Federal Reserve. Comex gold futures for December delivery rose 0.20% to a one-week high of $1,202.40 a troy ounce as of 10:25 AM ET (14:25 GMT). The minutes from the Fed’s latest policy meeting come out at 2:00 PM ET (18:00 GMT), which investors will look to for clues on future monetary policy.
  • After a knee-jerk reaction to the downside, West Texas Intermediate oil held onto solid gains in North American trade on Wednesday, as weekly data showed that oil supplies in the U.S. registered a much larger-than-expected draw, although gasoline stockpiles unexpectedly increased and distillate inventories rose more than expected. Crude oil for October delivery on the New York Mercantile Exchange rose $1.63, or 2.48%, to trade at $67.47 a barrel by 10:45 AM ET (15:45 GMT) compared to $67.27 ahead of the report.
  • China’s copper producers and traders are riding an unexpected surge of business that has pushed physical prices to their highest in nearly two years as fabricators rush to buy refined metal to avoid import tariffs on scrap that kick in on Thursday. The buying spree took off after Beijing announced two weeks ago it would hit $16 billion worth of U.S. imports, including scrap metal, with duties of 25 percent from Aug.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Agreement between Mexico and the United States on outstanding bilateral issues in the renegotiation of the North American Free Trade Agreement could be just a few hours away, Mexican officials said on Wednesday. “We hope that we’ll have a solution in the next couple of hours, or the next couple of days,” Mexican Economy Minister Ildefonso Guajardo told reporters before entering the offices of U.S. Trade Representative Robert Lighthizer for NAFTA talks.
  • Israel’s central bank on Wednesday criticized a government plan to sharply boost defense spending, saying it would come at the expense of civilian spending and probably increase the budget deficit and state’s debt burden. Prime Minister Benjamin Netanyahu told ministers last week that to meet expected threats in the coming decade, he intends to increase defense spending by 0.2 to 0.3 percent of gross domestic product under the “2030 Security Concept”.
  • The natural state of a capitalist economy is expansion. Recessions occur when “something breaks” rather than an expansion simply dying of old age. Unfortunately, central banks have a history of pumping the brakes for too long and too hard when attempting to contain growth and inflation and are often the cause of a recession.

COMEX GOLD SIGNAL

22Aug

Singapore’s crypto wallet firm X Infinity brings $20.5m up in private deal

Singapore’s Crypto: Singapore-based fintech organization X Infinity has brought $20.5 million up in a private deal round, surpassing its $18 million focus, to make a digital money wallet for taking care of exchanges universally, the organization reported. The organization is getting ready to dispatch a physical charge card by the final quarter of 2018, which will supplement the exchanges. The card will have the capacity to execute at all major worldwide ATMs and outlets. With more than 800 digital forms of money in the market, X Infinity tries to set up a stage where blockchain resources can be executed in a safe, constant way.

The preparing time on the X Infinity wallet is just about a second, far swifter than alternate models, for example, bitcoin which typically takes 78 minutes while Ethereum takes seven minutes, said X Infinity CEO Eddie Chong, in an announcement. On August 8, X Infinity additionally propelled its underlying coin offering with plans to utilize the returns for creating innovation and for business development. The organization has beforehand raised a blessed messenger round of $6 million. Going ahead, X Infinity intends to get recorded on no less than three noteworthy cryptographic money trades.

22Aug

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

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INTERNATIONAL COMEX NEWS

  • Gold prices rose on Tuesday as the dollar softens after U.S. President Donald Trump said he is “not thrilled” with the Federal Reserve’s decision to raise interest rates. Gold Futures for December delivery gained 0.6% to $1,201.9 per troy ounce at 1:40AM ET (05:40 GMT) on the Comex division of the New York Mercantile Exchange. Gold futures ended last week down 2.86%, the largest weekly decline since early May 2017, after hitting $1,176.20 last Thursday, the lowest level since early January 2017.
  • Oil prices held firm on Tuesday, with U.S. fuel markets seen to be tightening, although the release of crude from the American strategic reserve somewhat offset an expected supply cut due to upcoming sanctions against Iran. Frontmonth U.S. West Texas Intermediate (WTI) crude futures (CLc1) were up 30 cents, or 0.45 percent, at 0651 GMT, at $66.73 per barrel. The contract expires on Tuesday.
  • Metals prices continued to recover, led by a rise in the Chinese yuan on reports the U.S. and China were looking to resolve their tit-for-tat trade war as soon as November. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose by $10.40, or 0.88%, to $1,194.60 troy ounce. The bright start to the week for gold prices comes as a rising CNY/USD pointed to signs of optimism for positive progress on “low-level” trade talks between the United States and China due this week.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • The Trump administration on Tuesday proposed replacing the Clean Power Plan, the centerpiece of former President Barack Obama’s regulatory efforts to combat climate change. The proposal released by the Environmental Protection Agency is now open for a public comment period. A final EPA rule is expected later this year.
  • Prime Minister Alexis Tsipras hailed the end of a “modern-day Odyssey” on Tuesday after Greece emerged from nine years of bailouts, saying it should never forget the harsh lessons learned under tight financial supervision by its creditors. “This is a day of liberation,” Tsipras declared, standing on a hilltop overlooking a bay on the Ionian island of Ithaca. His decision to give a post-bailout speech on the island was laden with classical symbolism: in Homer’s epic poem The Odyssey, Odysseus, the King of Ithaca, returned home from the Trojan war after a 10-year voyage lost at sea.
  • After lying low on the Riviera through the summer break following a scandal over his bodyguard that has rocked his presidency, Emmanuel Macron embarks this week on the next wave of deep reform to France’s economy and institutions. Lawmakers from the ruling Republic on the Move party promise a resumption of the breakneck pace of legislation that saw Macron’s government rewrite labor laws, overhaul the state-run SNCF railways and revamp the tax code in its first 15 months.

COMEX GOLD SIGNAL

21Aug

COMEX MARKET IN SINGAPORE| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold is hitting new milestones of misery. Exchange-traded funds tracking the metal have bled assets for 13 consecutive weeks, the longest run in five years, investors have placed the biggest gold short on record, and bullion’s chief foe — a strong dollar — is extending its market grip. Gold’s 9 percent tumble this year belies the turmoil in emerging markets and jitters over technology companies, the anchor of the U.S. equity bull market.
  • Base metals rebounded, pushing copper back above $6,000 a metric ton, on easing trade tensions between the U.S. and China, and signs of stronger demand. Copper for three-month delivery rose 1.6 percent to $6,020 per ton as of 10:54 a.m. on the London Metal Exchange. Most other metals were also higher, with aluminum adding 2.3 percent. Copper prices extended gains on Monday after data showed orders to withdraw metal from LME warehouses increased by the most in three years.
  • Brent oil stabilized near $72 per barrel on Monday after several weeks of decline, weighed down by concerns over slowing global economic growth but supported by an expected fall in supply from Iran due to U.S. sanctions. Brent crude futures, a benchmark for international oil prices, were at $72.08 per barrel at 1336 GMT, up 25 cents. U.S. West Texas Intermediate (WTI) crude futures were up 6 cents at $65.96 per barrel.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • A broad cross-section of U.S. businesses has a message for the Trump administration: new tariffs on $200 billion of Chinese imports will force Americans to pay more for items they use throughout their daily lives, from cradles to coffins. Six days of public hearings on the proposed duties of up to 25 percent will start on Monday in Washington as part of President Donald Trump’s and the U.S. Trade Representative’s efforts to pressure Beijing for sweeping changes to its trade and economic policies.
  • Venezuela President Nicolas Maduro carried out one of the greatest currency devaluations in history over the weekend — a 95 percent plunge that will test the capacity of an already beleaguered population to stomach even more pain. One likely outcome is that inflation, which already was forecast to reach 1 million percent this year, will get fresh fuel from the measures. Prices are currently rising at an annualized rate of 108,000 percent, according to Bloomberg’s Café con Leche index.
  • Italian Deputy Prime Minister Matteo Salvini said on Monday the government will stand up any against market attacks or debt downgrades that may come its way. Italian stocks and bonds have repeatedly come under pressure since the anti-establishment coalition of the right-wing League, led by Salvini, and the 5-Star Movement took office in June.

GOLD TRADING FORECAST TODAY

20Aug

Singapore Stock Watch: Singapore VC FengHe Fund backs $4m Series An in child rearing application Bosco

Singapore Stock Watch: Bosco, an AI-controlled child rearing application that predicts and avoids dangers to kids, has brought $4 million up in a Series A financing round co-driven by Singapore-based investment firm FengHe Fund Management and London-based venture firm Arie Capital. Established in 2015, the Israel-based Bosco said its application gathers information from kids’ versatile movement, area, and interpersonal organizations to fabricate a “one of a kind social profile” for every tyke. “Children today get many instant messages and photographs, every day. While the majority of the substance is normally innocuous, it’s that one improper photograph or message that could inconvenience kids or their companions. Also, guardians need to think about it,” the firm said.

The application screens a tyke’s cell phone movement, including connections via web-based networking media, changes in online devotees and companions, changes in the tyke’s every day standard, low battery, hostile message, unseemly substance, obscure guest, and even the kid’s tone amid telephone calls. When it sees indications of misery in view of its checking, the application instantly sends alarms to guardians. “Our capacity computerized reasoning consolidates and breaks down the information, giving guardians brilliant and individual experiences right when they matter most,” Bosco said on its site. In an announcement, the organization said it will utilize the returns from the most recent subsidizing round for innovative work, promoting, and worldwide extension The application’s engineer, Israeli business person Enon Landenberg said the application was named after St. John Bosco, the benefactor holy person of kids. Landenberg is the originator of sFBI, a wander manufacturer that dispatches organizations around human-focused development. He was likewise fellow benefactor and overseeing accomplice of E-Dologic, Israel’s first intelligent publicizing office, which was established in 1999. FengHe Group, the co-drove financial specialist in Bosco’s Series A subsidizing round, has so far made six ventures since 2014. Its portfolio incorporates Luxola, ViSenze, Shenzhen Rui Medical, DaoCloud, and RedDoorz.

20Aug

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

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INTERNATIONAL COMEX NEWS

  • Gold prices Friday were set to post their biggest weekly slump since April last year as fears over a slowdown in China and a stronger dollar wreaked havoc in metals earlier this week. Gold futures for August delivery on the Comex division of the New York Mercantile Exchange rose by $0.40, or 0.08%, to $1,184.80 troy ounce. The rise in gold prices Friday arrived as the dollar gave up some of its earlier-week gains to trade roughly flat on the week.
  • WTI crude oil prices ended lower for a third-straight week, despite settling higher Friday amid reports the U.S. and China are mapping out plans to resolve their trade war later this year. On the New York Mercantile Exchange crude futures for September delivery rose 45 cents settle at $65.91 a barrel, while on London’s Intercontinental Exchange, Brent rose 0.63% to trade at $71.88 barrel.
  • The U.S. Trade Representative’s office said on Friday it doubled the length of tariff hearings on the next $200 billion worth of Chinese goods to six days from the previously planned three due to overwhelming demand from companies to testify. The hearings will be held Aug. 20-24 and on Aug. 27, from 9:30 a.m. to 6 p.m. EDT (1330-2200 GMT), the USTR said in a statement.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Mexico’s economy minister Ildefonso Guajardo said on Friday he hopes to conclude by the middle of next week outstanding bilateral issues with the United States surrounding the renegotiation of the North American Free Trade Agreement (NAFTA). “Hopefully we will be able to close up no later than the middle of the week,” Guajardo told reporters outside the U.S.
  • The U.S. and Mexico are resolving their differences on agricultural products covered under Nafta after the Trump administration withdrew some of its sweeping demands, bringing the nations closer to an overall deal, according to five people familiar with the discussions. American negotiators dropped their demand in the last week to erect barriers against seasonal imports of a wide variety of Mexican farm goods, according to the people, who asked not to be named discussing private negotiations.
  • The United Nations Human Rights Committee has asked Brazil to guarantee the political rights of jailed former president Luiz Inacio Lula da Silva, prompting a swift response by Brazil’s foreign ministry pointing out the recommendation had no legal significance. In a statement posted on its website on Friday, the UN Human Rights Committee said it has “requested Brazil to take all necessary measures to ensure that Lula can enjoy and exercise his political rights while in prison, as candidate in the 2018 presidential elections.”

COMEX GOLD SIGNAL

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